Nasdaq Partners with Kraken to Launch 24/7 Tokenized Stock Trading
Nasdaq announced a strategic collaboration with the digital asset trading platform Kraken and several issuers to develop a system that will enable the issuance and trading of tokenized versions of stocks and exchange-traded funds (ETFs), marking a significant step toward integrating blockchain technology into traditional capital markets.
Under the proposed plan, the platform is expected to launch in early 2027, allowing investors to buy and sell tokenized shares throughout the week while maintaining the same rights and privileges as conventional shareholders.
Tokenized shares would provide investors with full corporate governance rights, including the ability to vote in proxy ballots, participate in shareholder meetings, and receive dividend distributions.
Nasdaq stated that the initiative aims to enhance the efficiency of corporate actions, including dividend payments and proxy voting, by automating parts of these processes through blockchain infrastructure.
Through the partnership, Kraken will act as a distribution partner, making one-to-one tokenized versions of publicly listed shares available to its customers outside the United States, particularly in Europe and other international markets.
Nasdaq also noted that issuers interested in participating in the framework will be able to join the system, even if their companies are not listed on the Nasdaq exchange.
The initiative builds on a proposal submitted by Nasdaq to the U.S. Securities and Exchange Commission in September, seeking approval to allow tokenized versions of listed stocks and exchange-traded products to trade alongside traditional shares on the same platform.
According to the proposal, both tokenized and conventional shares would be settled through the Depository Trust, ensuring that the two formats remain fully interchangeable.
The plan remains subject to final approval from the U.S. Securities and Exchange Commission before it can be officially launched.
Tal Cohen, President of Nasdaq, said the platform places issuers’ needs at the center of digital transformation, noting that early tokenization initiatives often focused primarily on investors while overlooking the operational needs of issuing companies.
The initiative comes amid growing momentum around digital asset markets, as major financial institutions and asset managers explore the launch of tokenized versions of existing financial products.
